Salesforce (NYSE:CRM) Shares Up 0.1%
Salesforce, Inc. (NYSE:CRM – Get Free Report) shot up 0.1% on Friday . The company traded as high as $243.52 and last traded at $242.97. 1,983,249 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 6,559,899 shares. The stock had previously closed at $242.76.
Analyst Ratings Changes
Several analysts have recently weighed in on CRM shares. Deutsche Bank Aktiengesellschaft lowered their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Mizuho cut their target price on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Sanford C. Bernstein raised their target price on Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. Raymond James restated a “strong-buy” rating and issued a $325.00 price target (down previously from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Finally, Piper Sandler reduced their price objective on Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $292.79.
View Our Latest Analysis on Salesforce
Salesforce Stock Performance
The stock has a 50-day moving average of $276.53 and a 200 day moving average of $276.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $234.77 billion, a P/E ratio of 43.70, a price-to-earnings-growth ratio of 2.08 and a beta of 1.25.
Salesforce (NYSE:CRM – Get Free Report) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company posted $1.15 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.
Insider Transactions at Salesforce
In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the transaction, the chief executive officer now owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the sale, the chief executive officer now directly owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 640,870 shares of company stock worth $182,545,398. Corporate insiders own 3.20% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the 4th quarter valued at $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce in the fourth quarter valued at about $26,000. Ruedi Wealth Management Inc. grew its holdings in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the 4th quarter valued at approximately $31,000. Finally, Pacifica Partners Inc. lifted its stake in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
About Salesforce
Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company’s service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Salesforce, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Salesforce wasn’t on the list.
While Salesforce currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to investing in 5G and which 5G stocks show the most promise.
